by Claude Chendjou

PARIS (Reuters) – The main European scholarships are expected on a prudent note on Wednesday in a session which could give rise to profit taking after the recent good resistance of the markets on the background of optimism on customs duties and encouraging economic indicators in the United States.

According to the first indications available, the Parisian CAC 40 should snack 0.02% at the opening. The Dax in Frankfurt could go back 0.09%, while the FTSE 100 in London should abandon 0.06%. The Eurostoxx 50 index is expected to fall on 0.20%. The STOXX 600, which advanced 0.45%on Tuesday, could drop this Wednesday 0.07%.

The markets, which have greeted since Monday a new turnaround by President Donald Trump on customs duties, could choose to consolidate on the eve of the publication of a key inflation indicator in the United States, very followed by the American Federal Reserve (Fed), which will communicate at 6:00 p.m. GMT the report of his latest monetary policy.

In addition, the more marked improvement than expected of consumer confidence in May in the United States, according to the Conference Board survey published on Tuesday, was well received by investors. This trend should be confirmed Thursday by employment figures and the second quarter in the United States.

In companies, Nvidia, the last of the “seven magnificent” to publish its quarterly accounts this Wednesday after the closure of Wall Street, jumped more than 4%on Tuesday. Analysts believe that the flea manufacturer will set the tone on the extent of the current rebound.

In Europe, investors will carefully follow the General Assembly of Stmicroelectronics, while on the indicators, we expect in Germany the figures for the unemployment rate and in France the gross domestic product (GDP) for the first quarter, as well as an inflation indicator.

A Wall Street

The New York Stock Exchange ended up on Tuesday, carried by the appetite of investors for the risk.

The Dow Jones index won 1.78%, or 740.58 points, at 42,343.65 points.

The wider S&P-500 took 118.72 points, or 2.05%, at 5,921.54 points.

The Nasdaq Composite advanced 461.96 points (2.47%) to 19,199.16 points.

In Asia

On the Tokyo Stock Exchange, the Nikkei index finished stable at 37,722.40 points, supported by the weakness of the yen and the good performance of technological values ​​like Advantest and automobile titles like Honda. The wider topix also finished stable, at 2,769.51 points.

The MSCI index bringing together the values ​​of Asia and the Pacific (excluding Japan) loses 0.15% in a volatile session.

In China, the SSE Composite of Shanghai is almost unchanged and the CSI 300 refuses 0.03%, the dominant prudence in a context of persistent Sino-American tensions.

Changes

The dollar wins Wednesday 0.19% against a basket of reference currencies, but has always been a drop of 8% since the start of the year, investors seeking alternatives to American assets.

The euro appears at 1.1308 dollars (-0.17%) and the Sterling book at 1.3477 dollars (-0.20%).

The Yen, who reflected by 1% on Tuesday, reduced his losses on Wednesday to exchange at 144.35 for a dollar. The Japanese currency is affected by information that Japan is planning to reduce its very long -term bond emissions after a sharp increase in yields in recent weeks.

RATE

The yield of American treasury bills at ten years dates back 3.7 base points, to 4.4714%, after a drop the day before linked to a semblance of appeasement of worries on American debt.

The yield of the German Bund in the same deadline takes 1.4 base points, at 2.547%.

OIL

The oil market is slightly increasing due to the risks linked to the Venezuelan supply, but the prospect of an increase in production of OPEC+ limits the rebound in crude prices.

Brent increased by 0.30% to 64.28 dollars per barrel and light American crude (West Texas Intermediate, WTI) advances from 0.28% to 61.06 dollars.

(Written by Claude Chendjou, edited by Augustin Turpin)

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